Northcoast slashes price target on Ross Stores Inc. [ROST] – find out why.

Ross Stores Inc. [NASDAQ: ROST] closed the trading session at $119.49 on 07/16/21. The day’s price range saw the stock hit a low of $119.295, while the highest price level was $124.53. The company report on July 15, 2021 that Ross Stores Announces Departure of Travis Marquette, Executive Vice President and Chief Financial Officer.

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Ross Stores, Inc. (NASDAQ: ROST) announced that Travis Marquette, the Company’s Executive Vice President and Chief Financial Officer since 2019, has resigned effective immediately to accept a position with another company. The Company’s senior Finance executives will report to Michael Hartshorn, the Company’s Group President and Chief Operating Officer, until Finance leadership changes are announced in the coming months.

In commenting, Barbara Rentler, Chief Executive Officer, said, “Travis has made a number of contributions over the years in various leadership roles. We thank him and wish him well in his future endeavors.”.

The stocks have a year to date performance of -2.70 percent and weekly performance of -4.23 percent. The stock has been moved at 2.07 percent over the last six months. The stock has performed 0.43 percent around the most recent 30 days and changed -8.02 percent over the most recent 3-months.

If compared to the average trading volume of 2.01M shares, ROST reached to a volume of 2178374 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ross Stores Inc. [ROST]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROST shares is $139.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROST stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northcoast have made an estimate for Ross Stores Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 19, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on April 23, 2021, representing the official price target for Ross Stores Inc. stock. Previously, the target price had yet another raise to $126, while Gordon Haskett analysts kept a Buy rating on ROST stock.

The Average True Range (ATR) for Ross Stores Inc. is set at 2.61, with the Price to Sales ratio for ROST stock in the period of the last 12 months amounting to 2.91. The Price to Book ratio for the last quarter was 11.54, with the Price to Cash per share for the same quarter was set at 14.52. Price to Free Cash Flow for ROST in the course of the last twelve months was 12.43 with Quick ratio for the last quarter at 1.30.

ROST stock trade performance evaluation

Ross Stores Inc. [ROST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.23. With this latest performance, ROST shares gained by 0.43% in over the last four-week period, additionally plugging by 2.07% over the last 6 months – not to mention a rise of 41.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ROST stock in for the last two-week period is set at 42.55, with the RSI for the last a single of trading hit 38.50, and the three-weeks RSI is set at 44.60 for Ross Stores Inc. [ROST]. The present Moving Average for the last 50 days of trading for this stock 123.23, while it was recorded at 122.97 for the last single week of trading, and 116.30 for the last 200 days.

Ross Stores Inc. [ROST]: An insightful look at the core fundamentals

Ross Stores Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.70.

Ross Stores Inc. [ROST]: Insider Ownership positions

There are presently around $36,286 million, or 87.40% of ROST stock, in the hands of institutional investors. The top three institutional holders of ROST stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 47,931,712, which is approximately -0.077% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 27,069,139 shares of the stock with an approximate value of $3.23 billion in ROST stocks shares; and BLACKROCK INC., currently with $3.12 billion in ROST stock with ownership of nearly 1.449% of the company’s market capitalization.

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Positions in Ross Stores Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 368 institutional holders increased their position in Ross Stores Inc. [NASDAQ:ROST] by around 16,140,049 shares. Additionally, 402 investors decreased positions by around 15,750,134 shares, while 138 investors held positions by with 271,784,714 shares. The mentioned changes placed institutional holdings at 303,674,897 shares, according to the latest SEC report filing. ROST stock had 87 new institutional investments in for a total of 1,591,557 shares, while 77 institutional investors sold positions of 3,026,727 shares during the same period.

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